PRICE OF FERROUS SCRAP FELL IN SEPT IN TURKEY AND IN THE U.S.

The monthly average of TSI’s daily benchmark index for Turkish imports of HMS #1&2 80:20 fell US$31.02/tonne in September, -13.1% month-on-month (m-o-m).

 Prices steadily declined across the whole of September. 

TSI published its first monthly US shredded scrap 10-day average index (delivered Midwest mill) on September 11 at US$230/long ton. 

This index reflects the volume-weighted average price of transactions during the first ten days of the month. NASDAQ OMX listed a new US shredded scrap futures contract, settled using this 10-day average index, on September 7. 

The monthly average of TSI’s established weekly US domestic shredded scrap index (delivered Midwest mill) fell 9.1% in September.

Having started the month at US$230/long ton, the index finished September at US$198/lt, as it dipped below US$200/lt for the first time since TSI began compiling it in 2010. This index has now fallen a whopping 43% in 2015 alone.